Tuesday morning alibi

Tuesday the 29th of April saw us gather for the third brekkie-run, once again at Doppio Zero, Sunninghill.

The attendance register ballooned from four the previous time to nine this time, exhibiting a growth rate that some of those present would give their left leg to see in returns in the portfolio's that they are responsible for. [Both Mr Bester and Mr Hill were first time attendees, the latter showing true commitment by joining us all the way from Australia, although our German contingent was conspicuously absent].

Sadly we never got to the wealth of nations, instead considering how quickly the local and global economic climate has turned. This was strongly emphasized by MG, who explained how some analyses that he and his colleagues were doing had unearthed research touting huge growth prospects in all industries they looked at as recently as August 2007, and now just eight months later, they were hard-pressed to justify an investment in anything other than money-market accounts. For all the negative indicators, it was good to hear that MG wields such power in determining the suitability of due diligence suitors for his employer. At least we can all sleep well knowing that it lies in good hands.

As for the markets, what we do know is that usually the best thing to do is the opposite of what everyone else is doing. Does that mean we should run away from risk-free investments and pursue risky ones? Ah, well, perhaps MG's broker could give us all some tips on how to achieve the needed growth rates. Or perhaps we should just speak to Mark [not about girlfriends, don't worry], who's exorbitant yet legal profits made courtesy of our own JSE will reportedly be financing a month-long trip to South America. Don't forget to buy a round-trip ticket, Mark. Not a one-way.

Oh yes, and no pink shirts present again... phew.

I'm sure I've missed out many of the other highlights here, but all in all, a great morning connecting. Looking forward to next time! See you guys there.